Justification Memo - MDI Effectiveness Survey

Federal Deposit Insurance Corporation

550 17th Street NW, Washington, D.C. 20429-9990

550 17th Street NW, Washington, D.C. 20429-9990

December 20, 2019

 

Memorandum to: Samuel Wice

Policy Analyst

Office of Information and Regulatory Affairs

Office of Management and Budget

Executive Office of the President                            

                                    

From: Manny Cabeza

Regulatory Counsel

Assessments and Legislation Group

Legal Division

Federal Deposit Insurance Corporation      

     

RE: 2020 FDIC Minority Depository Institution (MDI) Program Effectiveness Survey

Under the generic clearance entitled, “Information Collection for Qualitative Research” (3064-0198), the FDIC hereby submits for OMB review the “2020 FDIC Minority Depository Institution (MDI) Program Effectiveness Survey.” This is a generic survey, which is a qualitative research effort by FDIC staff, which will be distributed by mail with the annual contact letter to all FDIC supervised MDIs for completion. The survey may also be made available via the FDIC Minority Depository Institution Program external website for completion.

The purpose of the survey is to receive feedback from the approximately 97 MDIs for which the FDIC is the primary regulator, to ensure that technical assistance, education and training, outreach initiatives, and the MDI Program website is effective at providing tools and resources for MDIs to promote and preserve their institutions. The convenience sampling employed for this survey does not produce statistically valid and reliable estimates for the entire population of FDIC insured regulatory institutions. Instead, the survey will yield anecdotal information about the experiences and opinions of the MDIs who respond to the survey.

The FDIC recognizes the importance of minority depository institutions and has historically taken steps to preserve and encourage minority ownership of insured depository institutions. In addition, the FDIC supports five statutory goals to promote and preserve these institutions. As a result, the Corporation is committed to ensuring that all available resources are of the highest quality and are well known by our institutions. In addition, the Corporation is committed to regularly assessing the effectiveness of our MDI Program and making improvements when necessary. We will use the results from this survey to compile general observations of the effectiveness of the technical assistance, education and training, and outreach initiatives being provided to our institutions. The survey will also identify any best practices to build upon or any potential areas that may require attention.

The survey includes 32 questions focused in the following areas: (1) their minority ownership status/classification; (2) their supervisory region; (3-5) awareness and usefulness of the FDIC website dedicated to MDIs; (6) awareness of technical assistance sources; (7-10) level of awareness and usefulness of technical assistance provided during an examination (11-12) level of awareness and usefulness of technical assistance provided as a return visit; (13-16) level of awareness and usefulness of requested technical assistance; (17-18) opportunity to provide direct feedback on potential improvements and additional needs; (19-25) the level of awareness and usefulness of education/training programs offered by the FDIC, potential barriers to participation, and recommendations for improvement; (26-31) the level of awareness and usefulness of outreach efforts offered by the FDIC; and (32) what aspects of the technical assistance, education and training, and outreach efforts could be improved.

To get timely feedback from the minority depository institutions, hard copies of this survey will be distributed the institutions with the annual letter. In addition, we will provide the institutions access to the survey via the MDI Program external website.

Estimated burden:

Annual Estimated Number of respondents: 97

Estimated Time per response: 10 minutes

Total Estimated Annual Burden: 16 hours

Total estimated annual burden for the collection of this information is 16 hours.

If you have any questions, please let me know. Thank you for your consideration.